Balance the Need for Speed

From a business perspective, how important is speed to the decision-making process? Is it better to research and analyze or better to act quickly? When it comes to talent management, business leaders believe due diligence works best.

Jack Raudenbush, Vice President at Raudenbush Engineering, Inc., says that in many cases, but not in every one, the ability to come to a quick decision is important.

Risk Outweighs Time-frame

“Managers and business owners must balance the ‘need for speed’ with an appreciation for thoroughness, and sometimes will achieve the best of both worlds by cultivating subject matter-specific resources to whom they can reach out, get quick answers, and use this knowledge to make an informed decision,” he says.

For example, he says that a longer decision making process could be associated with the hiring of a new manager or to fill a senior position. Creating an effective job description, determining the most qualified candidates, performing effective interviews, following up with references, and possibly negotiating compensation are all time consuming activities that shouldn’t be taken lightly, otherwise there is greater risk in hiring unsatisfactory staff.

Get Rid of Gut

“The longer you wait to decide, the faster the window of opportunity shuts. On the other hand, if you don’t have enough information to make an informed decision you have the very real probability of making a costly mistake,” he says.

Murray is of the general opinion that it is better to have all the facts and to have analyzed them before making a decision.

“I think those that operate on ‘gut feeling’ are just being lazy,” he says.

For example, Murray says that they used to hire employees on “gut feelings” with a “thumbs up” or “thumbs down” if their resume was right and they got a good vibe.

“We’d feel confident and make the hire. While this did work out sometimes, when it didn’t work out it was bad for both parties,” he says. “Now we do a lot more analysis prior to making those decisions and it’s worked out for the better.”

Mix Hard and Soft

When building an organization, the most successful companies address both the “hard” issues, such as defining decision roles and processes in the corporate center, regional and divisional centers, and operating units, as well as the “soft” ones, such as talent management, leadership behaviors and organizational culture.

So, when it comes to hiring, if you balance the need for speed and find the right mix of soft and hard issues, you’re well on your way to recruitment satisfaction.